| ➡️ Get instant news updates on Whatsapp. Click here to join our Whatsapp Group. |
The Uttar Pradesh government has taken a big step to become a leading hub for global technology and digital services. On Sunday, the state announced its new Global Capability Centres (GCC) Policy 2024, which aims to attract top global companies, increase investment, and create over 2 lakh high-paying jobs in the next five years.
This policy is part of the government’s plan to make Uttar Pradesh a $1 trillion economy by encouraging the growth of the IT and digital services sector.
What Are Global Capability Centres (GCCs)?
GCCs are offices or branches of large global companies that handle important functions like technology development, IT support, research, innovation, and customer service. Many multinational companies set up these centres in India to take advantage of skilled talent and lower operational costs.
With this new policy, Uttar Pradesh wants to become a preferred location for such centres, competing with other major tech hubs in India like Bengaluru, Hyderabad, and Pune.
Target Cities
The government is focusing on developing Noida, Lucknow, Kanpur, and Varanasi as major destinations for setting up these GCCs. These cities already have good infrastructure and are now being offered even more support to attract investment.
What the Policy Offers – Two Types of GCCs
The policy allows companies to set up two types of GCCs with different requirements and benefits:
Level-1 GCCs:
- Must invest at least ₹15 crore or hire 500 employees if located outside Gautam Buddha Nagar and Ghaziabad (e.g., in cities like Kanpur or Varanasi).
- If located within Gautam Buddha Nagar or Ghaziabad, the investment must be at least ₹20 crore.
Advanced GCCs:
- Must invest at least ₹50 crore and employ 1,000 people if located outside GB Nagar/Ghaziabad.
- If located within GB Nagar/Ghaziabad, the minimum investment is ₹75 crore.
This model helps both small and large companies to set up operations depending on their size and business goals.
Big Incentives for Companies
To make the policy more attractive, the government is offering many financial incentives that will reduce setup and operating costs:
- 30% to 50% discount on land cost
- 100% exemption on stamp duty
- Capital subsidy of:
- Up to ₹10 crore for Level-1 GCCs
- Up to ₹25 crore for Advanced GCCs
- Interest subsidy of 5%
- Operational cost subsidy of:
- Up to ₹40 crore for Level-1 GCCs
- Up to ₹80 crore for Advanced GCCs
- Payroll support of up to ₹1.8 lakh per employee
These incentives will help companies save money while creating jobs and expanding their presence in the state.
Special Benefits for Fortune 500 and Big Investors
Companies that are part of the Fortune 500 list, India’s top 500 firms, or have foreign direct investment (FDI) of more than ₹100 crore will receive customized incentives. This is being done to attract large, well-established global companies to invest in the state.
Support for Startups and Innovation
Apart from big firms, the policy also supports startups, innovation, and research:
- 50% reimbursement on costs for developing startup ideas (up to ₹2 crore)
- Patent support with subsidies of ₹5 to ₹10 lakh
- Grants of up to ₹10 crore to set up Centres of Excellence focused on research and advanced technology
This is aimed at building a strong ecosystem of innovation and entrepreneurship in Uttar Pradesh.
Why This Policy Matters
The GCC Policy 2024 shows the state government’s serious commitment to digital growth, job creation, and attracting global businesses. It also aligns with national initiatives like Digital India and Make in India.
By offering world-class infrastructure and generous incentives, Uttar Pradesh hopes to bring in major global companies and create employment opportunities for lakhs of skilled youth.
This policy is not just about business—it is about building a stronger, more inclusive economy, where both multinational companies and local startups can thrive.
-
-
-
-
-
-
-
-
-
-
-
-
